Global Handbag Market 2019-2023

Below are some of the key findings from this handbag market analysis report

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Global handbag market overview

The increase in e-commerce penetration is one of the primary factors that will drive the growth of the global handbag market size in the coming years. This is because of the rapid penetration of the internet has enabled manufacturers to provide easy visibility to their products. Vendors are increasingly using social media to increase brand awareness and for the promotion of their products.

Consumers prefer online shopping because of their busy schedules. Therefore, the adoption of digital products such as tablets and smartphones has propelled the online sale of products such as handbags. Furthermore, Therefore, the rise in e-commerce penetration will drive the growth of the global handbag market size at a CAGR of close to 5% during the forecast period.

Also, the adoption of omnichannel retailing is a critical trend that is gaining traction in the market. This form of retailing will help vendors leverage the available inventory and provide shoppers an integrated experience across online and offline channels. It also helps to establish better inventory visibility, available-to-promise (ATP) capabilities, and enterprise resource planning (ERP) by canalizing wholesale reorders, store transaction, online orders, and inventory count at one place. The rise in adoption of omnichannel retailing will also fuel the growth of the handbag market size over the next few years.

Top handbag market companies covered in this market research report

The handbag market is fragmented. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this handbag market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this handbag market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading handbag companies, including:

• Hermès
• Kering
• LVMH
• PRADA
• Tapestry, Inc.

Handbag market segmentation based on geographic regions

• APAC
• Europe
• North America
• MEA
• South America

APAC will account for the largest share of the handbag market during the forecast period. The emerging middle-class population, increasing demand for fashion products, and rising disposable income are the major factors that will drive the growth of the handbag market in this region. This report provides an accurate prediction of the contribution of various segments to the growth of the global handbag market size.

Handbag market segmentation based on distribution channel

• Offline
• Online

The offline distribution channel will account for the maximum sale of handbags during the forecast period. This will mainly attribute to the increasing growth of organized retailers such as hypermarkets, supermarkets, department stores, and specialty stores.

Key highlights of the global handbag market report for the forecast period 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the handbag market during the next five years
• Precise estimation of the global handbag market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the handbag industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of handbag market companies

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